Business News

George Soros foundations now control $18 billion: reports

NEW YORK (Reuters) - Investor George Soros has transferred about $18 billion, the majority of his estimated fortune, to his Open Society Foundations, making them the second largest philanthropic grant-making group in the United States, according to media reports on Tuesday. The foundations already controlled billions of dollars, but Soros, 87, has in recent years increased the pace of transfers from his hedge fund-tu...

18 Oct 7:31 AM 0 Read More...

Boeing says Bombardier CSeries jets may face hefty duties despite Airbus deal

MONTREAL/TOULOUSE, France (Reuters) - Boeing Co said on Tuesday that Bombardier Inc’s CSeries jets could still be hit with high U.S. import duties, even if they are assembled in Alabama through an industry-changing deal with Airbus. The deal announced on Monday gives Airbus a majority stake in Bombardier’s troubled CSeries jetliner program, securing the plane’s future and giving the Canadian firm a possible way...

18 Oct 7:31 AM 0 Read More...

New cancer drugs help Johnson & Johnson top profit estimates

(Reuters) - Johnson & Johnson posted better-than-expected third-quarter earnings, raising its full-year forecast due to growth from new cancer drugs and high-margin treatments picked up in its $30 billion acquisition of Actelion earlier this year. Shares of J&J, part of the Dow Jones Industrial Average, rose 3.4 percent to $140.79 on Tuesday. The shares have traded at or near record levels for much of the ye...

18 Oct 7:31 AM 0 Read More...

Asia shares sit on gains, await word from China’s Xi

SYDNEY (Reuters) – Asian shares consolidated recent gains and currencies kept to tight ranges on Wednesday as investors waited to see what policies might emerge from China’s Communist Party conference. The twice-a-decade congress is expected to cement the authority of President Xi Jinping, who kicks off the week-long event with a speech outlining his plans for the next five years. Markets are keen for any dire...

18 Oct 7:31 AM 0 Read More...

Asia shares sit on gains, await word from China's Xi

SYDNEY (Reuters) - Asian shares consolidated recent gains and currencies kept to tight ranges on Wednesday as investors waited to see what policies might emerge from China’s Communist Party conference. The twice-a-decade congress is expected to cement the authority of President Xi Jinping, who kicks off the week-long event with a speech outlining his plans for the next five years. Markets are keen for any direction...

18 Oct 2:30 AM 0 Read More...

IBM's revenue beats estimates on cloud, security services

(Reuters) - International Business Machines Corp (IBM.N) handily beat analysts’ quarterly revenue estimates on Tuesday as the technology company’s shift to cloud and security services gains traction. Shares of the company rose 3 percent to $151 in extended trading. They had dropped nearly 12 percent this year. Under Chief Executive Ginni Rometty, IBM has in recent years shifted focus to growth areas across its bu...

17 Oct 9:29 PM 0 Read More...

Wall St. ends little changed; Dow brushes 23K milestone

NEW YORK (Reuters) - The Dow Jones Industrial Average briefly ticked above the 23,000 point mark for the first time on Tuesday, driven by strong earnings from UnitedHealth and Johnson & Johnson, though it finished the session just below that level. The Dow Jones Industrial Average .DJI rose 40.48 points, or 0.18 percent, to 22,997.44, the S&P 500 .SPX gained 1.72 points, or 0.07 percent, to 2,559.36 and the N...

17 Oct 9:29 PM 0 Read More...

Exclusive: Microsoft responded quietly after detecting secret database hack in 2013

(Reuters) - Microsoft Corp’s secret internal database for tracking bugs in its own software was broken into by a highly sophisticated hacking group more than four years ago, according to five former employees, in only the second known breach of such a corporate database. The company did not disclose the extent of the attack to the public or its customers after its discovery in 2013, but the five former employees de...

17 Oct 4:24 PM 0 Read More...

Dow breaches 23,000-mark for the first time

(Reuters) - The Dow Jones Industrial Average breached the 23,000 mark for the first time on Tuesday led by more than 5 percent gain in UnitedHealth. The broader market however was weighed down by losses in industrial, financial and technology stocks. Shares of the largest U.S. health insurer (UNH.N) touched a record high after the company reported a stronger-than-expected profit and raised its full-year earnings fo...

17 Oct 4:24 PM 0 Read More...

Powell likely next Fed chief, though Yellen best suited: economists

LONDON (Reuters) - Jerome Powell likely will be the next Federal Reserve chairman, according to a slim majority of economists in a Reuters poll - but most of them said current Fed Chair Janet Yellen would be the best option. Just over half the 40 economists who participated in the survey, taken in the past few days, tipped Fed Governor Powell to be appointed chair by U.S. President Donald Trump when Yellen’s curren...

17 Oct 11:20 AM 0 Read More...